Even in a bear market, Cardano ($ADA ) shows promising potential. The daily chart signals a potential breakout as ADA tests key price levels.
Traders are watching its behavior around $1.03, which could trigger a sharp rise or a deeper correction. Crypto analyst Dan Gambardello believes that the series of higher highs and higher lows for ADA suggests that the path to $2 may be closer than it seems.
Recent price action for Cardano indicates an upward trend. The series of higher highs and higher lows suggests bullish momentum and increasing market strength.
Moving averages (MA) on the chart confirm this trend, with a clear separation between short-term, medium-term, and long-term MAs. This indicates that momentum is building, and the market is likely to continue its upward trajectory, at least in the short term. However, the price has consolidated around $0.975, indicating potential indecision.
